As a landlord, there are many things you can do to increase the value of your property. It is important to regularly make upgrades to your property and keep it current to attract new tenants and satisfy the current ones. Here are 5 upgrades that you can add to your rental property.
Add a New Coat of Paint
A new coat of paint can really spruce up any room and enhance the value of your rental property. Prospective tenants will be more interested in renting a unit that is well maintained. Every color evokes a different mood, and if you want some inspiration for paint colors you can check out our guide.
Upgrade the Roof
It is crucial that you regularly check the roof of your building. After winter you should check to see if there was any damage from harsh weather. Ensuring that your roof is in prime condition will help protect you from any accidents.
Change the Floor
Replacing the floor will greatly increase the appeal and value of the unit. This upgrade takes some work, but it is very beneficial. Adding a new floor will help attract tenants and you can advertise this as a major upgrade in the listing.
Upgrade the hardware
Replacing the faucets, door knobs, and other handles is a cheap fix that will dramatically change the feel of your building. Upgrading these small things will help to make your building seem newer and they won’t break the bank.
Install New Counters
Nice countertops are something that prospective tenants look for in a rental unit. Replacing the countertop changes the look of the kitchen and is much cheaper than replacing all the appliances.